Monday, April 18, 2011

Addendum to Precious Metals Train Post

Addendum to prior post. S&P puts U. S. on list for possible credit downgrade. Gold is up, stocks are down; somehow the DXY (U. S. dollar index) is up (?!?). And somehow the 10-year note is more or less unchanged. S&P has now joined the Chinese credit rating agency Dagong in facing facts. The GAO won't even give the Feds an unqualified audit opinion, for crying out loud! How is that compatible with a AAA borrower?

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